Lending Club Blog

Do You Have a Will?

While statistics regarding the number of Americans without a will tend to vary fairly widely, even the most conservative estimates put the number at around 50%. If you are one of those without a will, today’s discussion may persuade you to write one.

As you know, a will allows you to designate who will get your belongings and assets in the event of your death. Without a will, a court will decide how to divide your belongings. If you have a child, then a will is an absolute necessity. While some people might not care as much about what happens to their money when they die, they most certainly would care about what happens to their children. Your will allows you to name guardians for your children. Again, this is something you would certainly not want handled by the courts, without your input, after your death.

Just like with insurance, it’s the people least likely to need a will who actually need one the most. When a young, healthy person dies unexpectedly, the situation tends to be the most complicated. No one wants to think about dying young, but with a little planning, the process of writing a will is relatively straightforward.

Depending on your situation, you have various options for creating your will. The two most common are hiring a lawyer and using will preparation software. For basic wills, without many complicated circumstances, software may be adequate. I personally feel more comfortable using a lawyer for such an important matter, but only you can decide the right choice for your situation.

I think of a will in the same light as life insurance: I hope I never need them, but if I do, I’ll be glad I have them. You’ve worked hard during your life to earn your assets and care for your children, so you should be the one who decides what happens to them. We’re always advocating taking control of your financial situation here on the Lending Club blog. A will is your final method of control, and one that you should certainly considering using.

Tuesday, September 18th, 2007 at 6:48 am

Comments (0)

Recommended

Types of Loans 101

Growing Your Business By Using Capital

9 Reasons to Open an IRA

6 Reasons to Get a Personal Loan

See more
Lending Club Awards
  • Archives z

Recent Posts

Line of Credit vs. Loan

Lines of credit (LOCs) and small business term loans… Read More »
September 28, 2016

Types of Loans 101

There are many types of loans out there and… Read More »
September 16, 2016

Meet Patrick Dunne — Lending Club’s Chief Capital Officer

Patrick Dunne, Chief Capital Officer,… Read More »
September 8, 2016

Growing Your Business By Using Capital

Smart small business owners don’t wait to consider borrowing… Read More »
August 19, 2016

9 Reasons to Open an IRA

Retirement: a word that often comes with many connotations.… Read More »
August 5, 2016

6 Reasons to Get a Personal Loan

While it would be great if we all had enough… Read More »
July 29, 2016

Lending Club and the Marketplace Model

Some of our investors have observed the funding environment… Read More »
July 28, 2016

A Recap: Credit Strength on the Lending Club Platform

We are proud of our… Read More »
July 14, 2016

A Message to Investors from our President and Acting CEO

Today, our President and acting… Read More »
May 19, 2016

Lending Club Receives Tribeca Disruptive Innovation Award

Disruptive innovation comes in many… Read More »
April 29, 2016

2014

We went public today!

Ringing the bell this morning at the New York… Read More »
December 11, 2014

New and Improved Statistics Page

We recently redesigned our Loan Statistics page to make… Read More »
November 13, 2014

Lending Club Honored with Economist Innovation Award

This month I was honored… Read More »
October 15, 2014

Welcome Vermont Investors!

Today, we’re thrilled to welcome residents of the state… Read More »
September 4, 2014

We filed to go public today

We filed a registration statement with the SEC today… Read More »
August 27, 2014

Our Billion Dollar Quarter

We’re excited to announce  that we’ve facilitated over $5… Read More »
July 8, 2014

Is Lending Club Available in My State?

Is Lending Club available in my state? That is… Read More »
July 7, 2014

Lending Club Joins Senator Cory Booker to Discuss Improving Access to Capital for Small Businesses

Read More »
June 20, 2014

Lending Club Named a CNBC Top 50 Disruptor for a Second Year

For the second year in… Read More »
June 17, 2014

PRIME is now Automated Investing

Lending Club is excited to announce that PRIME has… Read More »
May 14, 2014
View All w